We know how daunting it can be to start a new business, especially if you’re disrupting an industry or creating an entirely new one. When there is no path to follow, the biggest question is, where do I start? There is so much to do, but before you get ahead of yourself, let’s start at the beginning. To kick-start the process, and ease some of those first-time founder nerves, we’re asking successful entrepreneurs to share their story in our new series, From Scratch. But this isn’t your typical day in the life. We’re getting down to the nitty-gritty from writing a business plan (or not) to sourcing manufacturers and how much they pay themselves, we’re not holding back.
It’s not easy to see the silver lining sometimes, especially in times like these, but small business owner, Blair Armstrong has an important message for anyone who’s feeling challenged right now: Persist.
It’s a simple but powerful call to action that has helped her through tough times and she wants to make sure that small business owners hear it too. “Plan for the unexpected—persist,” she tells us. “Things can change at any moment. You may be one moment or one day away from realizing your goals.”
Armstrong knows all about the highs and lows of running a business. The founder of Gilded Body has made plenty of mistakes—her first manufacturer was a catastrophic failure—but she sees them as valuable lessons on the rocky entrepreneurial path. Because as Armstrong explains ahead, “there are no shortcuts or easy routes.”
If you haven’t heard of her luxurious body care line, then you’re in for a pleasant surprise. Her marble body brush, body balm, bath soaks, and candles are beautifully crafted and urge us all to take better care of the skin on our bodies.
So, of course, we’re thrilled to have her brand in the Create & Cultivate’s inaugural Small Biz Pop-Up line-up in Los Angeles. Locals can now safely shop via Postmates or contactless shopping thanks to Square when visiting the IRL pop-up at Platform.
Ahead, Armstrong takes us behind the scenes of her business and tells us how she built it from the ground up, what it really takes to succeed, and why she still hasn’t paid herself.
On the lightbulb moment…
There was not a lightbulb moment per se but a series of events and recurring thoughts and ideas. I’ve always loved skincare and beauty, which led me to become a Dermatology PA. I had an idea for a product that I believed to be unique and that would be well received. During my training and practice, requests for dry skin and body product recommendations were very common. I wanted to create products that I would confidently recommend. It was important to me that they be beautiful and effective.
We spend an inordinate amount of time caring for the skin on the face, often neglecting the skin below the neck. The skin on the face is 3% of the total surface area of the body but receives 99% of our time and focus. I want to encourage a more balanced approach to skincare, one that includes caring for the body with the same, if not more effort than we have for facial skincare.
As I worked on the initial product, I began to develop ideas for more products and after a few months, I had a plan for a complete range. I decided very early in my medical training that I wanted to find a way to improve access to dermatologic care and to reduce disparities in care and creating this business allowed me to get to work on it.
On writing a business plan…
I started without a business plan and created a loose plan after a few months. Creating a business plan proved to be extremely helpful for decision making. It allowed me to work through and articulate my vision, set objectives, and benchmarks. In the process of putting it together, I did a lot of research on the landscape and industry.
On coming up with the name…
This was one of the most important and most difficult aspects of starting the business. I researched the science of naming, made endless lists, surveyed family, friends, and strangers. I inquired with local marketing agencies that offered naming services. Ultimately, I decided on a name that is inspired by my love for art, architecture, sculpture, and history. I considered the history of the words, how they’re used, what the name would imply and how I could build a story around the name that would work well for the brand and product line I wanted to create.
On setting up the business…
I did all the basics of checking the domain, trademark, and social handle availability. Part of the process that I really enjoyed was working with a graphic designer on the brand logo, font, and creating the brand creative guide. The creative and research aspects of building a business are my favorite. I spend a lot of time thinking about how I can improve and refine. It’s through research and my experiences that I find inspiration.
On brand research…
I researched everything I could think of and anything I thought would even be remotely helpful. I read books and articles about entrepreneurship, starting, and growing a business. I love How I Built This podcast by Guy Raz. I highly recommend taking the time to research as much as you can and as quickly as you can to try to avoid some of the more common and costly mistakes. Mistakes are inevitable but there is a lot of guidance and information available.
On finding a manufacturer…
The first manufacturer I found online did not work out at all. As in catastrophic failure. It was a complete waste of time and money but a valuable lesson. I learned the importance of working with a company that will stand behind what they produce. I would advise other founders to ask for recommendations, ask the company for references, and read and understand all aspects of the contract. I was too trusting.
On self-funding…
My company is completely funded by my earnings, savings, and supported by my spouse. I haven't done any rounds.
On money mistakes…
One of the biggest money mistakes I made was paying for services that I didn’t need at that stage of my business. There will always be offers of services that promise to help your business. There are no shortcuts or easy routes.
On working full-time while building Gilded…
Yes. I worked full-time and worked through my graduate program while building the company. It was challenging but I cared enough to persist.
On paying herself…
I did not and have not paid myself. I hope to be able to start to pay myself within the next 12 months.
On building a team…
Gilded is a team of one. I collaborate with experts and freelancers as needed. I’ve attempted to hire a few times. Hiring during the pandemic is proving to be difficult.
On hiring an accountant…
I didn’t have an accountant in the beginning. Choose one of the top online accounting programs and seek advice from an accountant when the time comes.
On the biggest learning curve…
The biggest learning curve is learning to juggle so many things and figure out which ones will actually move the needle for my business. I wear so many hats.
On having a mentor…
I follow some incredibly successful, women that are transparent and share a great deal of information about their journeys. Recently, I had the pleasure of connecting with two experienced and supportive fellow entrepreneurs. I have monthly check-in calls with one and I chat with the other by phone or email. I’m a member of Makelane, a community for women in e-commerce. The opportunity to work with like-minded women and the sense of community has been incredibly helpful.
On allocating budget to marketing…
I’ve tried digital marketing, content marketing, local events, and trade shows to promote the company. I’ve also tried influencer marketing. A significant percentage of my budget goes to marketing because my company is relatively new and I’m still working to build brand awareness. Marketing is obviously critical to business success. A solid marketing strategy cannot be overvalued.
On the importance of email…
I didn’t set up email marketing early and learned how crucial it is for business. I would advise others to not make this mistake.
On her #1 piece of advice for aspiring small business owners…
I would advise people who want to start a business to reach out to and talk with entrepreneurs. Try to learn as much as possible about the challenges, opportunities, and inevitable obstacles.
On her #1 piece of money advice for founders…
My number one piece of financial advice would be to keep proper accounting of all expenses, especially in the beginning—proper record-keeping is important.
On advice for her younger self…
If I could go back to the beginning, I would encourage myself to go faster, commit to the business sooner. To listen to my instinct. That opportunity is often disguised as hard work.
Entrepreneurship is unlike anything you will ever do in your life. Don’t feel pressured to start a business because it’s the thing to do. Take the time to explore your interests and you will uncover your passion.
To discover, support, and shop all of the brands featured at the Create & Cultivate Small Biz Pop-Up, head to our C&C Small Biz Pop-Up hub.
